Financial Performance - For the year ending December 31, 2024, the group's revenue was RMB 5,770.9 million, an increase of 0.9% compared to the previous year[4] - The group's gross profit for the year was RMB 1,229.4 million, up 7.4% year-on-year, with a gross profit margin of 21.3%, an increase of 1.3 percentage points[4] - The total comprehensive income attributable to equity holders of the parent company was RMB 548.4 million, reflecting a 4.9% increase from the previous year[4] - The net profit for the year was RMB 552.4 million, compared to RMB 503.6 million in the previous year[6] - The company's net profit for the year ended December 31, 2024, was RMB 549,061,000, an increase from RMB 522,375,000 in the previous year, representing a growth of approximately 5.1%[9] - Total comprehensive income for the year was RMB 548,352,000, compared to RMB 522,586,000 in the previous year, indicating an increase of about 4.9%[9] - The basic and diluted earnings per share attributable to ordinary shareholders was RMB 0.19, compared to RMB 0.18 in the previous year[6] - The group’s profit for 2024 was RMB 552.4 million, an increase of RMB 48.8 million (or 9.7%) compared to RMB 503.6 million in 2023[92] - Profit before tax increased by 6.1% from RMB 617.6 million in 2023 to RMB 655.1 million in 2024[100] - Net profit increased by RMB 48.8 million to RMB 552.4 million in 2024, with the profit margin rising to 9.6% from 8.8% in 2023[102] Dividends - The board proposed a final dividend of RMB 0.051 per ordinary share (pre-tax) for the year ending December 31, 2024[4] - The company declared a final dividend of RMB 314,500,000 for the year, compared to RMB 148,377,000 in the previous year, representing an increase of about 111.2%[11] - The proposed final dividend for the year ending December 31, 2024, is RMB 0.051 per share, a decrease from RMB 0.076 per share for the previous year[127] - The interim dividend for 2024 is set at RMB 0.03 per share, totaling RMB 88,953,000[50] Assets and Liabilities - The total assets less current liabilities amounted to RMB 9,013.9 million, compared to RMB 9,306.1 million in the previous year[8] - Current liabilities decreased to RMB 6,334.1 million from RMB 8,739.0 million in the previous year[8] - Non-current assets totaled RMB 6,796.4 million, down from RMB 7,292.1 million in the previous year[7] - The total assets of the group amounted to RMB 15,348,073 thousand as of December 31, 2024[30] - The total liabilities as of December 31, 2024, amounted to RMB 7,838,479 thousand, a decrease from RMB 10,763,498 thousand in the previous year[33] - The total liabilities decreased by 27.2% from RMB 10,763.5 million at the end of 2023 to RMB 7,838.5 million at the end of 2024[92] Cash Flow - Cash generated from operating activities was RMB 1,840,770,000, slightly down from RMB 1,906,327,000 in the previous year, reflecting a decrease of approximately 3.4%[10] - The company reported a decrease in cash flow from investing activities, with a net outflow of RMB 340,970,000 compared to RMB 560,210,000 in the previous year, a reduction of about 39.1%[11] - Financing activities resulted in a net cash outflow of RMB 2,139,909,000, significantly higher than the previous year's outflow of RMB 364,157,000, indicating a substantial increase in financing costs[11] - The company’s cash and cash equivalents at the end of the year were RMB 994,747,000, down from RMB 1,759,357,000 at the beginning of the year, reflecting a decrease of approximately 43.4%[11] - Operating cash flow for the group was RMB 1,702.8 million for the year ending December 31, 2024, with a significant reliance on project timelines and collection of receivables for future cash flow[121] Segment Performance - The environmental energy solutions segment generated revenue of RMB 5,497,468 thousand, accounting for approximately 95.3% of total revenue[30] - The renewable energy engineering segment reported revenue of RMB 252,259 thousand, representing a smaller portion of the overall revenue[30] - The group incurred a loss of RMB 128,515 thousand in the other business segment, impacting overall profitability[30] - The segment revenue from Environmental Solutions was RMB 5,497,468 thousand, while Renewable Energy Engineering contributed RMB 252,259 thousand for the year ended December 31, 2024[37] - Revenue from energy-saving solutions increased by 2.4% to RMB 5,497.5 million in 2024, accounting for 94.7% of total revenue[105] Research and Development - The company has allocated HKD 1,219.50 million for expanding its desulfurization and denitrification business, which has been fully utilized[134] - Research and development expenses amounted to HKD 101.60 million, with HKD 75.11 million actually used, and an expected remaining balance of HKD 18.49 million to be utilized by December 2025[134] - The group obtained 45 patent authorizations in 2024, including 36 invention patents[90] Market Position and Strategy - The company maintained its position as the largest desulfurization and denitrification operator and the largest denitrification catalyst manufacturer in the People's Republic of China[4] - The company operates in various sectors including environmental facility operation, denitration catalyst production and sales, water services, energy-saving engineering, and renewable energy projects[12] - The environmental protection industry is projected to reach a scale of approximately RMB 15 trillion by 2030, indicating significant growth potential for the company's related business[71] - The company is expanding its business in the recycling of retired wind turbine blades, waste photovoltaic panels, and energy storage batteries, guided by recent government policies promoting resource recycling[72] - The company is actively involved in the development of a clean, low-carbon, safe, and efficient new energy system, aligning with national carbon neutrality goals[73] Compliance and Governance - The company has adopted revised International Financial Reporting Standards (IFRS) for the fiscal year ending December 31, 2024, with no significant impact on financial statements[15] - The company has adhered to the corporate governance code and has not faced any significant legal lawsuits requiring board member accountability during the reporting period[128] - The chairman, Mr. Zhu, is also acting as the general manager following the resignation of the previous general manager in September 2023, which deviates from the corporate governance code[129] - The audit committee has reviewed the annual performance and the consolidated financial statements prepared in accordance with international financial reporting standards[132]
大唐环境(01272) - 2024 - 年度业绩